"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Don’t Blame Consumers for the Bad Economy
First, consumer spending is a consequence, not a cause, of economic growth. Increased consumer spending follows economic growth, so it cannot be the case that increased consumer spending creates economic growth. That’s like arguing wet streets cause rain.
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